The Adirondack North Country Association (ANCA) has received a combined grant award of $1.268 million from the U.S. Department of Commerce’s Economic Development Administration (EDA) and Mastercard to develop and implement small business assistance programs in the aftermath of the COVID-19 economic crisis.
ANCA will leverage the $1 million EDA CARES Act Recovery Assistance grant to implement a new Center for Pandemic Response (CPR), which will provide technical support services that help small businesses across Northern New York diversify income streams and decrease overhead costs. The Mastercard Impact Fund, administered by The Mastercard Center for Inclusive Growth, will provide $250,000 to support the project.
ANCA is expected to work with regional economic development partners to implement the project, which they anticipate will support 305 businesses across New York’s 11-county Adirondack North Country region in developing resilience plans. Over the next two years, it’s hoped the project will help retain approximately 1,425 jobs, create 210 jobs and preserve millions of dollars in wages.
Under the program participating business owners will develop strategic plans to help them access new markets, expand e-commerce functionality, reduce supply chain inefficiencies, decrease energy costs and create succession plans.
Project partners include the Adirondack Economic Development Corporation, CITEC Business Solutions and the Cooperative Development Institute. ANCA plans to invite other organizations to collaborate through a RFP (request for proposals) process later this year.
For more information, visit ANCA’s website.